Global Life Science Tools Market Overview
Life Science Tools Market Size was valued at USD 141.2 Billion in 2022 and is projected to grow from USD 157.15 Billion in 2023 to USD 370.07 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.30% during the forecast period (2023 - 2032). The market drivers fueling the market, along with expansion across the country, are expanding research and development in the bioscience sector, such as the creation of vaccines, cell culture, and bio-processing.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Life Science Tools Market Trends
Growing need for biopharmaceutical services is driving the market growth
The market for life science tools is expected to grow as a result of rising demand for biologics that commonly use recombinant DNA technology. The life science business is currently focusing on cutting-edge breakthroughs like predictive analytics in order to boost the supply of biological treatments and keep up with the increasing demand. These products, which account for 20% of the worldwide pharmaceutical market, could wind up becoming the cornerstone of the pharmaceutical sector throughout the course of the projection period with the aid of major advancements in technology, laboratories, strategy, and operations. The increased safety, efficacy, and ability of biopharmaceutical therapies to treat diseases that were previously incurable has increased demand.
The pharmaceutical industry participants are concentrating on and funding research to create goods involving proteins. In the development and production of drugs, many types of analytical equipment are used. Drug molecules, protein analysis and purification, and quality control are all evaluated by analytical tools. A crucial stage in the creation of medications is the identification and separation of proteins. Modernized technology guarantees the safety and purity of a chemical while assisting in characterizing it. In recent years, emerging economies have seen a large growth in both foreign direct investment and government financing for pharmaceutical R&D. Therefore, greater R&D spending in the pharmaceutical, biotechnology, and life sciences industries will virtually probably increase the utilization of life science equipment.
With advances in technology, the use of tools such as next-generation sequencers, spectrometers, PCR and qPCR, flow cytometers, chromatography columns, microscopes, nucleic acid processing equipment, and cell biology instruments is rising. The development of molecular diagnostic techniques such digital droplet PCR, next-generation sequencing (NGS), and genome-wide sequencing has had an impact on the introduction of DNA assay in clinical settings in terms of accuracy, timeliness, and reproducibility. A successful extraction procedure is essential for making the best use of circulating nucleic acids in medicinal applications. Thus, driving the life science tools market revenue.
Life Science Tools Market Segment Insights
Life Science Tools End-User Insights
The Life Science Tools Market segmentation, based on end-user includes Biopharmaceutical Company, Government & Academic Industry, Health Care and Others. The health care segment dominated the market. Growth is be fueled by the rising use of proteomic and genomic procedures in hospitals to diagnose and treat a number of diseases. Additionally, the market is probably being stimulated by hospitals' growing use of tissue diagnostic and NGS services.
Life Science Tools Product Insights
The Life Science Tools Market segmentation, based on product, includes NGS, Sanger Sequencing, Nucleic Acid Preparation, Nucleic Acid Microarray, PCR & qPCR, Flow Cytometry, Mass Spectrometry, Separation Technologies, Electron Microscopy, NMR, and Others. The separation technologies category generated the most income. Separation techniques include things like immunoprecipitation, automatic purification systems, chromatography, and other methods of analyte elution. The productivity and efficiency of the production process are both increased as separation technologies are adopted more widely by various industries.
Figure 1: Life Science Tools Market, by End-User, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Life Science Tools Technology Insights
The Life Science Tools Market segmentation, based on technology includes Genomic Technology, Cell Biology Technology, Proteomics Technology, Lab Supplies & Technologies and Others. The cell biology technology segment dominated the market. The segment is growing as a result of the significance of cell biology technology in drug development and an increase in NIH funding for cell biology. Additionally, improvements in flow cytometry and liquid handling have led to a rise in the use of cell-based tests for drug discovery.
Life Science Tools Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American life science tools market area will dominate this market due to the swift adoption of diagnostic screening, oncology, genomics, and proteomics in the area. Market growth in the region is being driven by the rising usage of genetic medicine, biopharmaceuticals, diagnostic techniques, and cutting-edge technology for the diagnosis and treatment of clinical disorders in the United States and Canada. The area also gains from the existence of a sizable number of industry players who are consistently seeking to create improved tools for life science research.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: LIFE SCIENCE TOOLS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe life science tools market accounts for the second-largest market share due to the rapid localization of genomes, proteomics, oncology, and diagnostic screening. The growth engine will be the investments and efforts made by international corporations to increase their presence and seize untapped possibilities in this region. Further, the German life science tools market held the largest market share, and the UK life science tools market was the fastest growing market in the European region
The Asia-Pacific Life Science Tools Market is expected to grow at the fastest CAGR from 2023 to 2032. Growth will be fueled by the efforts made in this region by international businesses to extend their presence and take advantage of untapped prospects. This region also offers a low-cost operational and production unit for doing research. On the development of life science tools and technologies in this area, these factors are anticipated to have a substantial impact. Moreover, China’s life science tools market held the largest market share, and the Indian life science tools market was the fastest growing market in the Asia-Pacific region.
Life Science Tools Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the life science tools market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, life science tools industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global life science tools industry to benefit clients and increase the market sector. In recent years, the life science tools industry has offered some of the most significant advantages to medicine. Major players in the life science tools market are attempting to increase market demand by investing in research and development operations includes Agilent Technologies, Becton, Dickinson and Company, Hoffmann-La Roche Ltd., Bio-Rad Laboratories, Inc., GE Healthcare, Hitachi, Ltd., Illumina, Inc, Merck KgaA, Oxford Instruments plc, Qiagen N.V., Bruker Corporation, Danaher Corporation, Shimadzu Corporation, Thermo Fisher Scientific, Inc. and ZEISS International.
With its global headquarters in Santa Clara, California, Agilent Technologies, Inc. offers software, instruments, services, and consumables for labs. Hewlett-Packard created Agilent as a spin-off in 1999. Agilent offers a broad range of technological platforms to analytical laboratories, the clinical, and routine diagnostics sectors. In February 2022, for improved customer access to genomic tools, Agilent Technologies, Inc. collaborated with Biosciences, Inc. to connect the AVITI System with SureSelect target enrichment panels.
Solutions for molecular testing are offered by Qiagen NV (Qiagen). The firm's sample technologies assist in isolating and processing DNA, RNA, and proteins from samples like blood, tissue, and other materials. Its assay technologies help identify the genetic information of a pathogen in a tumor. Its bioinformatics solutions help analyze and interpret genomic data. And it offers solutions to automate the use of consumables into effective molecular testing workflows. In January 2023, QIAGEN and California-based population genomics business Helix have a strategic alliance that will improve companion diagnostics for genetic illnesses.
Key Companies in the life science tools market include
- Agilent Technologies
- Becton, Dickinson and Company
- Hoffmann-La Roche Ltd.
- Bio-Rad Laboratories, Inc.
- Bruker Corporation
- Danaher Corporation
- GE Healthcare
- Hitachi, Ltd.
- Illumina, Inc.
- Merck KGaA
- Oxford Instruments plc
- Qiagen N.V.
- Shimadzu Corporation
- Thermo Fisher Scientific, Inc.
- ZEISS International
Life Science Tools Industry Developments
January 2023: Agilent Technologies Inc. has acquired Avida Biomed, a start-up company in the life sciences industry that develops high-performance target enrichment procedures with unique features for clinical researchers employing next-generation sequencing (NGS) techniques to study cancer.
August 2022: Curiosity Diagnostics, a Polish company that creates innovative technology products and services for the medical diagnostic and healthcare markets, announced that it has reached an agreement to be acquired by Bio-Rad Laboratories, Inc. for an official capital of up to $170 million, which would include approximately $100 million in cash and up to USD 70 million in potential future milestone payments.
Life Science Tools Market Segmentation
Life Science Tools End-User Outlook (USD Billion, 2018-2032)
- Biopharmaceutical Company
- Government & Academic Industry
- Health Care
- Others
Life Science Tools Product Outlook (USD Billion, 2018-2032)
- NGS
- Sanger Sequencing
- Nucleic Acid Preparation
- Nucleic Acid Microarray
- PCR & qPCR
- Flow Cytometry
- Mass Spectrometry
- Separation Technologies
- Electron Microscopy
- NMR
- Others
Life Science Tools Technology Outlook (USD Billion, 2018-2032)
- Genomic Technology
- Cell Biology Technology
- Proteomics Technology
- Lab Supplies & Technologies
- Others
Life Science Tools Regional Outlook (USD Billion, 2018-2032)
- North America
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
| Report Attribute/Metric |
Details |
| Market Size 2022 |
USD 141.2 Billion |
| Market Size 2023 |
USD 157.15 Billion |
| Market Size 2032 |
USD 370.076 Billion |
| Compound Annual Growth Rate (CAGR) |
11.30% (2023-2032) |
| Base Year |
2022 |
| Market Forecast Period |
2023-2032 |
| Historical Data |
2018- 2022 |
| Market Forecast Units |
Value (USD Billion) |
| Report Coverage |
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered |
End-User, Product, Technology, and Region |
| Geographies Covered |
North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered |
The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled |
Agilent Technologies, Becton, Dickinson and Company, Hoffmann-La Roche Ltd., Bio-Rad Laboratories, Inc., Hitachi, Ltd., Illumina, Inc, Merck KgaA, Oxford Instruments plc, Qiagen N.V., Shimadzu Corporation, Bruker Corporation, Danaher Corporation, GE Healthcare, Thermo Fisher Scientific, Inc. and ZEISS International |
| Key Market Opportunities |
·        An increase in funding for life science research and a rise in demand for biopharmaceuticals |
| Key Market Dynamics |
·        Infectious ailments and genetic disorders that are a focus are becoming more common |
Life Science Tools Market Highlights:
Frequently Asked Questions (FAQ) :
The Life Science Tools Market size was valued at USD 141.2 Billion in 2022.
The global market is projected to grow at a CAGR of 11.30% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Agilent Technologies, Becton, Dickinson and Company, Bruker Corporation, Danaher Corporation, GE Healthcare, Hitachi, Ltd., Hoffmann-La Roche Ltd., Bio-Rad Laboratories, Inc., Illumina, Inc, Merck KgaA, Oxford Instruments plc, Qiagen N.V., Shimadzu Corporation, Thermo Fisher Scientific, Inc. and ZEISS International.
The cell biology technology category dominated the market in 2022.
The health care category had the largest share in the global market.
